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Land & investment

Land, teardowns and investment property in Naples

Buildable land close to the Gulf is scarce, so many Naples purchases are really a purchase of the lot: an older house that will be expanded or replaced. For investors, the numbers only work once you know what the site supports, what it will cost to build and what the finished property will sell or lease for.

New house in the Bayshore area of Naples, Florida, developed by Gino Torriero
Bayshore, NaplesDeveloper

What we look at

01Lots and teardowns

The older house on a Naples lot may be kept, expanded or replaced. The answer depends on its floor elevation, its condition and the FEMA rule that applies when a house in a flood zone is substantially improved. Nello Build explains that rule in renovate or tear down?.

02Spec-home sites

A spec home works when the lot, the design and the construction cost line up with what the finished house will sell for. Gino has done it himself: Bayshore, a new house on Lunar Street in Naples, with Gino as developer.

03Development parcels

Zoning, setbacks, access, utilities and the required flood elevation decide how much can be built and what it will cost to prepare the site.

04Income and investment property

Rental homes and condominiums, small commercial buildings and mixed-use property. Gino also handles rentals for owners, so he can speak to both sides of an income property.

Know what the site allows

Flood zone, required floor elevation, setbacks and zoning decide what a property can become. You should know them before you make an offer, not after.

Gino Torriero spent more than 30 years in construction, as CEO of Nello Construction in Pittsburgh and now at Nello Build in Naples. On a land deal, construction cost is often the largest number, and he gives you an early, realistic picture of it.

Design and build

When the plan is a new building, Luca Architects can design it and Nello Build can build it, at cost plus a fee with open books. Nello Build has also written about how long a custom home takes to build in Naples.

Selling a lot or an older house

When you own a lot or an older house on a valuable site, the buyer is often a builder or someone who plans to build. Knowing the flood zone, the required elevation and what the site allows helps you set the price and answer a builder’s questions with confidence. Gino reads the site the way that buyer will, and he can tell you what a new house on it would likely involve.